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CNN
Dec 30, 2012 12:00pm PST
they might be able to use $1 million as a threshold. but the speaker of the house, the top elected democrat in the country was not able to get a vote. he was not able to get even his own member support on the $1 million threshold. for now we don't know what the threshold is. for chain cpi, that's the consumer price index. and many benefits in the united states such as social security are, increased to that benefit. is calculated based on cpi. the way they calculate that is when a basket of goods increases or decreases in value. chain cpi would more follow consumer behavior. so if the price of meat were to go up. it may be that the average family then switches to chicken. well, the consumer price index, the inflation calculation doesn't account for that possible switch. and that is why the discussion is going on about chained cpi it would mean when certain prices go up. you would make the assumption that people spend in a different way. and that is where the contention is. i want to bring in jessica yellin, our chief white house correspondent. jessica, we talked about chain cpi, this cake up
CNN
Dec 29, 2012 10:00am PST
as a fundamental issue. >> that's fair. this was an election, barack obama won by three percentage points. this is a divided country right now. it's not me and grover. >> it does not absolve anyone of the responsibility of getting the business of the nation done. >> i agree with that. i agree. i want a resolution here. and i think actually there's room for -- i think there will be some kind of bargain in the next couple days or next few weeks and then we move on to these bigger issues that you've been talking about, tax reform, et cetera. one last point if i may. whether we improve these tax increases for the rich or not, as you know, you've said, we still have a trillion-dollar deficit. we have a lot of work to do. >> we do. all i ask is that we get the work done. steven moore, always a pleasure. thank you. we'll talk to you a lot in 2013. >>> up next, the great tax debate that steven was just talking act. does raising tax on the wealthy really hurt the economy? i'll give you an answer. s. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. a
Search Results 0 to 1 of about 2